Prestige Wealth Management Group LLC Acquires 951 Shares of News Co. (NASDAQ:NWSA)

Prestige Wealth Management Group LLC boosted its stake in shares of News Co. (NASDAQ:NWSA) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,085 shares of the company’s stock after buying an additional 951 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in News were worth $223,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Prudential Financial Inc. increased its position in News by 3.8% in the fourth quarter. Prudential Financial Inc. now owns 244,855 shares of the company’s stock worth $6,743,000 after buying an additional 9,000 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of News by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 50,952,317 shares of the company’s stock worth $1,403,227,000 after acquiring an additional 632,721 shares during the period. Stevens Capital Management LP bought a new stake in News in the 4th quarter valued at about $411,000. LPL Financial LLC lifted its holdings in News by 8.2% during the fourth quarter. LPL Financial LLC now owns 59,321 shares of the company’s stock valued at $1,634,000 after purchasing an additional 4,493 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in News during the fourth quarter worth about $6,177,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Price Performance

News stock opened at $27.46 on Wednesday. The business has a 50-day simple moving average of $28.17 and a 200 day simple moving average of $27.78. News Co. has a 52 week low of $22.65 and a 52 week high of $30.69. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of 37.62 and a beta of 1.34. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. News had a net margin of 4.22% and a return on equity of 5.31%. On average, research analysts forecast that News Co. will post 0.94 earnings per share for the current fiscal year.

News Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, March 12th. News’s dividend payout ratio is currently 27.40%.

Analysts Set New Price Targets

Several research firms have recently issued reports on NWSA. Loop Capital lowered their price target on shares of News from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Guggenheim increased their target price on News from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Seaport Res Ptn upgraded News to a “strong-buy” rating in a research report on Friday, January 31st. Citigroup began coverage on News in a report on Friday, January 10th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, StockNews.com raised News from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $39.25.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.